Stanley Laman Group Ltd. raised its stake in NIKE, Inc. (NYSE:NKE) by 14.0% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,914 shares of the footwear maker’s stock after acquiring an additional 1,581 shares during the period. Stanley Laman Group Ltd.’s holdings in NIKE were worth $1,827,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently made changes to their positions in NKE. Jennison Associates LLC raised its holdings in NIKE by 30.8% in the 4th quarter. Jennison Associates LLC now owns 20,446,063 shares of the footwear maker’s stock valued at $2,892,505,000 after acquiring an additional 4,812,150 shares in the last quarter. CIBC World Markets Inc. raised its holdings in NIKE by 537.1% in the 4th quarter. CIBC World Markets Inc. now owns 1,690,382 shares of the footwear maker’s stock valued at $239,138,000 after acquiring an additional 1,425,038 shares in the last quarter. Alliancebernstein L.P. raised its holdings in NIKE by 7.2% in the 4th quarter. Alliancebernstein L.P. now owns 18,389,260 shares of the footwear maker’s stock valued at $2,601,529,000 after acquiring an additional 1,236,833 shares in the last quarter. Epoch Investment Partners Inc. raised its holdings in NIKE by 237.9% in the 3rd quarter. Epoch Investment Partners Inc. now owns 1,085,232 shares of the footwear maker’s stock valued at $136,240,000 after acquiring an additional 764,076 shares in the last quarter. Finally, AKO Capital LLP raised its holdings in NIKE by 32.6% in the 3rd quarter. AKO Capital LLP now owns 2,361,535 shares of the footwear maker’s stock valued at $296,467,000 after acquiring an additional 580,158 shares in the last quarter. 64.20% of the stock is owned by hedge funds and other institutional investors.
Several equities analysts have weighed in on NKE shares. Needham & Company LLC lifted their price objective on NIKE from $149.00 to $165.00 and gave the company a “buy” rating in a report on Monday, December 21st. BMO Capital Markets lifted their price target on NIKE from $134.00 to $160.00 and gave the company an “outperform” rating in a research note on Monday, December 21st. DZ Bank reiterated a “sell” rating on shares of NIKE in a research note on Monday, January 4th. Wells Fargo & Company lifted their price target on NIKE from $146.00 to $157.00 and gave the company an “overweight” rating in a research note on Monday, December 21st. Finally, Argus lifted their price target on NIKE from $140.00 to $165.00 and gave the company a “buy” rating in a research note on Tuesday, December 22nd. One research analyst has rated the stock with a sell rating, four have issued a hold rating and twenty-nine have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $154.63.
NIKE (NYSE:NKE) last released its quarterly earnings results on Thursday, December 17th. The footwear maker reported $0.78 EPS for the quarter, beating analysts’ consensus estimates of $0.63 by $0.15. NIKE had a return on equity of 34.89% and a net margin of 7.39%. The firm had revenue of $11.24 billion for the quarter, compared to analyst estimates of $10.51 billion. During the same quarter in the previous year, the company posted $0.70 EPS. The business’s revenue was up 8.9% on a year-over-year basis. As a group, equities analysts predict that NIKE, Inc. will post 2.96 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, April 1st. Shareholders of record on Monday, March 1st will be given a $0.275 dividend. The ex-dividend date is Friday, February 26th. This represents a $1.10 dividend on an annualized basis and a dividend yield of 0.82%. NIKE’s dividend payout ratio (DPR) is presently 59.46%.
In other NIKE news, VP Chris L. Abston sold 30,000 shares of the company’s stock in a transaction dated Thursday, January 7th. The stock was sold at an average price of $145.00, for a total value of $4,350,000.00. Also, Director Timothy D. Cook sold 52,000 shares of the business’s stock in a transaction dated Monday, November 30th. The shares were sold at an average price of $133.91, for a total value of $6,963,320.00. Following the completion of the transaction, the director now directly owns 55,433 shares in the company, valued at $7,423,033.03. The disclosure for this sale can be found here. Insiders sold a total of 444,500 shares of company stock worth $62,461,870 in the last quarter. Corporate insiders own 3.80% of the company’s stock.
NIKE Company Profile
NIKE, Inc, together with its subsidiaries, designs, develops, markets, and sells athletic footwear, apparel, equipment, and accessories worldwide. The company offers NIKE brand products in six categories, including running, NIKE basketball, the Jordan brand, football, training, and sportswear. It also markets products designed for kids, as well as for other athletic and recreational uses, such as American football, baseball, cricket, golf, lacrosse, skateboarding, tennis, volleyball, walking, wrestling, and other outdoor activities; and apparel with licensed college and professional team and league logos, as well as sells sports apparel.
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